Culver, Inc. provided the following information: July August Projected sales $220,000 $274,000 Projected merchandise purchases $144,000 $182,000 Culver estimates that it will collect 40% of its sales in the month of sale, 35% in the month after the sale, and 22% in the second month following the sale. Three percent of all sales are estimated to be bad debts. Culver pays for 30% of merchandise purchases in the month purchased and 70% in the following month. General operating expenses are budgeted to be $20,000 per month, including depreciation of $2,200. Culver pays operating expenses in the month incurred. . Culver makes loan payments of $3,500 per month of which $450 is interest and the remainder is principal. Calculate Culver's budgeted cash disbursements for August. Budgeted Cash Disbursements $